As some of you know, I often write about trades after I have taken them. This was mainly at the start of my challenge when I was trading too frequently.

This trade is one of those early trades where I was not trading the right way because I was taking too many trades. However, let’s discuss it since it’s part of the 100-trade challenge, and I am being transparent about my progress.

It Doesn’t Work When The Market Is Unsure

This may sound obvious, but looking back at this trade, I see a lot of uncertainty—one candle up, one candle down. Sometimes it may work out, but it’s just too choppy to trust.

I remember this trade well. Once I entered a short position, it played with my emotions, and in the end, I wanted to exit and break even, which is exactly what I did.

I draw your attention to the large red down candle, followed by the large green bullish candle, giving buyers the impression that buying here was strong and a good idea.

Price immediately reversed, trapping those buyers. I then decided to enter short, thinking the market was going to reach the low and retest that zone. However, the market was unsure and lost any momentum I expected it to have.

Therefore, I took a breakeven, and I’m glad I did because this trade would have resulted in a loss if I hadn’t.

Current Trade Challenge Progress